Loan Portfolio Manager - Conversions

About Us

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

Role Summary

The Portfolio Manager – Conversions (“PM”) will manage a portfolio of affordable housing real estate loans on properties located throughout New York State and facilitate their conversion from construction financing to permanent financing. The PM will act as the liaison with CPC’s lending partners, analyze budgets, monitor leasing status, re-underwrite deals as required, identify risks which may delay conversion or repayment of any loan, proactively develop solutions to resolve issues, and convert loans prior to the stated maturity date. The candidate will manage the coordination of closings between CPC’s investors, attorneys, originations, credit and portfolio services staff.

What You’ll Do

• Monitor and prioritize the conversion and permanent pipelines for CPC’s Upstate NY portfolio.
• Collect and coordinate all documentation required for closing.
• Interact with all parties to the transactions, including but not limited to: originators, underwriters, credit staff, loan administrators, inspecting engineers/architects, borrowers, syndicators, governmental partners, and internal and external legal counsel.
• Review underwriting packages and closing documents for thoroughness, accuracy, and compliance with CPC’s policies and procedures, as well as investor requirements.
• Draft closing letters, escrow worksheets, and post-closing documentation for all permanent loan conversions and closings.
• Collect appropriate legal documentation, participate in closing calls with internal and external parties, and ensure information is correctly reflected in systems.
• Work with CPC’s field staff to ensure all closing conditions are met prior to closing.
• Work with CPC’s liquidity team to forecast and manage capital funding, including SPE funding and warehouse lending.
• Manage relationships with SONYMA and CPC’s permanent loan investors.
• Provide excellent customer service to both external customers and investors as well as internal field officers.
• Prepare and maintain conversion and permanent pipelines and closing board reports.
• Perform other administrative duties, as required.
  
  

Skills And Experience

• BA/BS required.
• A minimum of 2 years’ loan servicing/closing experience.
• Knowledge of loan servicing procedures and requirements.
• Strong communication, customer service, and organizational skills.
• Proficiency in Microsoft Word and Excel.
  
  

What We Offer

• Competitive compensation
• 401(k) retirement plans with employer match
• Medical, dental, and vision benefits for employees and their dependents
• Commuter benefits
• PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
• Tuition assistance program
• Two “work from anywhere” weeks per year
• Summer Fridays
• Collaborative working spaces
• Service days to support our communities
• Employee development and engagement events
• More about our offerings and culture here
  
  

This is a full-time, hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $75,000 – $95,000, dependent on experience.

The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.